Mortgage trade groups are asking the CFPB to expressly permit servicers, in the case of escrow shortage, to include a lump-sum repayment option in account statements.

One of Seila Law’s arguments was that the CID cannot be ratified because the applicable three-year statute of limitations had expired. The court, however, said the time bar only applies to lawsuits.

For 2021, the appraisal exemption threshold for higher-priced mortgages remains unchanged at $27,200, according to a joint announcement by the CFPB, the Federal Reserve Board and the OCC.

The CFPB halts reorganization of its supervision, enforcement and fair lending division; the bureau refuses to rescind a policy regarding credit reporting agencies.

Names of possible successors to Kathy Kraninger include two from Sen. Elizabeth Warren’s inner circle: Rep. Katie Porter and FTC Commissioner Rohit Chopra.

However, it’s not clear whether the motivations are to disempower enforcement or rationalize the integration of enforcement and supervision. Industry watchers weigh in.

Mortgage gripes filed with the CFPB increased by 5.4% in the third quarter, driven by criticisms regarding applications and closings. (Includes two data charts.)

The latest supervisory report from the CFPB found that some servicers violated Regulation X by including a lump-sum repayment option in escrow account statements when mortgagors had a shortage.

The CFPB by and large has agreed that marketing service agreements are permissible. Companies now need to reevaluate that payments for such partnerships are of reasonable market value.

To avoid a pileup at the end of the year due to the operational challenges caused by the pandemic, state regulators have called on loan originators to renew their licenses early.